AUDITING OF PROJECTS & CONTRACTS
Enhancing Project Integrity and Contractual Compliance through Effective Audit Practices
Course Schedule
| Date | Venue | Fees (Face-to-Face) |
|---|---|---|
| 27 – 31 Jan 2025 | Dubai, UAE | USD 3495 per delegate |
| 02 – 06 Mar 2025 | Doha, Qatar | USD 3495 per delegate |
Course Introduction
Project and contract auditing plays a vital role in ensuring transparency, accountability, and compliance across project lifecycles. As organizations increasingly engage in complex projects with multiple vendors and contractual obligations, the need for a structured and effective audit approach is more critical than ever.
This intensive 5-day course equips auditors, project managers, and procurement professionals with the skills to conduct thorough audits of projects and contracts. Participants will learn to evaluate project planning and execution, verify contract compliance, identify cost overruns and risks, and recommend improvements that enhance project governance and financial control.
Course Objectives
By the end of this course, participants will be able to:
• Plan and execute audits of projects and contracts effectively
• Assess project governance structures and risk management practices
• Evaluate contract terms, vendor performance, and financial controls
• Identify non-compliance, fraud risks, and performance gaps
• Prepare comprehensive audit reports with actionable recommendations
Key Benefits of Attending
• To strengthen audit and assurance functions within projects and contracts
• To detect potential risks and compliance failures before they escalate
• To ensure project expenditures are justified, authorized, and monitored
• To verify that project deliverables and contract obligations are being met
• To enhance overall project success through governance and accountability
Intended Audience
This program is designed for:
• Internal and external auditors
• Project managers and project controllers
• Contract and procurement managers
• Compliance and risk management professionals
• Finance and governance officers involved in project oversight
Individual Benefits
Key competencies that will be developed include:
• Project risk assessment and audit planning
• Contract review and compliance testing techniques
• Cost verification and value-for-money analysis
• Identification of project governance weaknesses
• Report writing and communication of audit findings
Organization Benefits
Upon completing the training course, participants will demonstrate:
• Improved project outcomes through early identification of risks
• Better contract management and supplier accountability
• Reduced fraud and misuse of funds in project delivery
• Standardized audit procedures for complex projects
• Enhanced integration between audit, procurement, and project functions
Instructional Methdology
The course follows a blended learning approach combining theory with practice:
• Strategy Briefings – Project lifecycle auditing, contract risk, and fraud indicators
• Case Studies – Real-life project audit failures and lessons learned
• Workshops – Planning an audit, testing contract controls, and cost validation
• Peer Exchange – Sharing audit experiences across sectors and industries
• Tools – Audit checklists, risk registers, and reporting templates
Course Outline
Detailed 5-Day Course Outline
Training Hours: 7:30 AM – 3:30 PM
Daily Format: 3–4 Learning Modules | Coffee breaks: 09:30 & 11:15 | Lunch Buffet: 01:00 – 02:00
Day 1: Foundations of Project and Contract Auditing
Module 1: Introduction to Project Governance and Audit Role (07:30 – 09:30)
• Stakeholders, audit objectives, and project assurance
Module 2: Contract Types and Audit Implications (09:45 – 11:15)
• Fixed-price, cost-plus, time & materials, performance-based
Module 3: Workshop – Mapping the Audit Environment (11:30 – 01:00)
• Identifying audit scope and key stakeholders
Module 4: Legal and Regulatory Compliance in Projects (02:00 – 03:30)
• Procurement rules, contract law, and audit authority
Day 2: Risk-Based Project Auditing
Module 5: Risk Assessment and Audit Planning (07:30 – 09:30)
• Developing a risk-based audit strategy
Module 6: Internal Controls and Risk Indicators (09:45 – 11:15)
• Control frameworks and red flags
Module 7: Workshop – Project Risk Identification Exercise (11:30 – 01:00)
• Creating a project risk register
Module 8: Audit Working Papers and Documentation (02:00 – 03:30)
• Evidence gathering and audit trails
Day 3: Contract Review and Financial Verification
Module 9: Evaluating Contractual Clauses and Deliverables (07:30 – 09:30)
• Milestones, penalties, variations, and SLAs
Module 10: Payment Controls and Budget Adherence (09:45 – 11:15)
• Contract pricing, invoices, and financial controls
Module 11: Workshop – Reviewing a Sample Contract and Cost Claim (11:30 – 01:00)
• Detecting billing anomalies and contract breaches
Module 12: Cost Validation and Value-for-Money Testing (02:00 – 03:30)
• Benchmarks, procurement standards, and pricing tests
Day 4: Performance, Monitoring, and Reporting
Module 13: Project Performance Monitoring and Evaluation (07:30 – 09:30)
• KPIs, earned value analysis, and performance audits
Module 14: Vendor and Contractor Performance Auditing (09:45 – 11:15)
• Contractor compliance, quality, and deliverable verification
Module 15: Workshop – Auditing Performance Data (11:30 – 01:00)
• Interpreting reports and progress claims
Module 16: Drafting Audit Findings and Recommendations (02:00 – 03:30)
• Writing clear and actionable audit observations
Day 5: Final Audit Execution and Review
Module 17: Finalizing the Audit Report (07:30 – 09:30)
• Reporting formats, issue tracking, and management response
Module 18: Presentation of Audit Results (09:45 – 11:15)
• Communicating findings to stakeholders and executives
Module 19: Workshop – Group Audit Simulation (11:30 – 01:00)
• Presenting project audit findings
Module 20: Wrap-Up and Certification (02:00 – 03:30)
• Debrief, feedback, and personal action planning
Certification
Participants will receive a Certificate of Completion in Auditing of Projects & Contracts, validating their capability to plan, conduct, and report audits that improve project performance, compliance, and contractual accountability.